Right Time to Sell Your Fountain Valley, California Restaurant?

Following years of labor, you have decided to sell your Fountain Valley, California restaurant

Considering starting a different Fountain Valley, California restaurant, moving, or maybe slowing down. Regardless of the reason, selling a Fountain Valley, California restaurant can be way more challenging than you might realize. This is because it takes careful preparation and a solid game plan to successfully get out with enough proceeds for all the labor you may have put into it.

Important Steps to Consider in Selling Your Restaurant

You may either think to contract with a eatery broker to guide you in selling your Fountain Valley, California restaurant or take on the task yourself. Whether considering selling your Fountain Valley, California restaurant on your own for the first time or with a restauarant broker, here are some tasks you can plan for.

#1 Put Together all Necessary Documentation

This is a necessary initial step to take when you begin the process of offering your Fountain Valley, California restaurant.

The necessary documents may vary from state to state--even in California, but the following is a list of a few standard documents you may find helpful to have prepared:

• A list of your assets
• Lease documentation
• Your licenses (e.g., liquor license, business license, etc.)
• Copies of health inspection documents
• Architectural plan
• Financial statements and other important financial documents

Corbett Restaurant Group comes with experience to assist you in the market for sale of your Fountain Valley, California restaurant. Call today for a no-obligation consultation at (888) 266-5182.

It's probably best not to show all these documents to a prospective buyer right away. But, you may want to have them ready because you will certainly require them during the sales process.

Also, putting together these documents lets you see your Fountain Valley, California restaurant through the lens of a buyer. This provides you a clear picture of the Fountain Valley, California restaurant you're selling. Furthermore, it allows you to show whether there are any concerns you will have to address.

#2 Put Your Financials in Order

Your financial records are an important detail of selling your Fountain Valley, California restaurant. This is why you should strive to have your documents accurate and well organized.

Showing your financial documents to possible buyers may help clear any hesitations they may have concerning your Fountain Valley, California restaurant.

These financial records could include:

• Inventory of equipment and assets
• Profit and loss statements
• Tax records
• Cash transactions
• Bank statements

Also, ensure you have duplicate copies of all of these documents. This will make it easier for you to send the documentation to potential buyers.

Likewise, as the seller, you must disclose information including debts, owed taxes, expected repairs, etc. Failing to inform a buyer regarding these items could create legal issues for you if a buyer later discovers these ommissions post closing the deal.

#3 Organize the Details of Your Commercial Lease

In the process of preparing to sell your Fountain Valley, California restaurant, you must find out the terms of your commercial lease. It could be disappointing if, after securing a buyer, your lease hinders you from closing the deal.

For this reason, it is advisable to talk to your landlord concerning your plan to sell your Fountain Valley, California restaurant and to possibly extend your lease.

#4 Appraise Your Restaurant

Buyers and investors will often request an detailed evaluation of your financial records, whether favorable or not, this will help them evaluate the true value of your Fountain Valley, California restaurant.

It is therefore in your best interest to ensure that you increase sales and make a reduction in your expenses to increase your cash flow before trying to sell your Fountain Valley, California restaurant.

The estimated time it takes to sell a Fountain Valley, California restaurant is six months. Within the six months, there are many things you can do to strengthen your profit and reduce several costs, and thus strengthen the value of your Fountain Valley, California restaurant.

In addition, with regards to your assets, you'll to understand the depreciation involved. Everything depreciates, so it’s a good idea to individually value your assets.

This may assist you in estimating the overall worth of your Fountain Valley, California restaurant. Understanding the overall value will help you determine a selling price.

#5 Make Your Restaurant Attractive

The appearance of your Fountain Valley, California restaurant could go a long way in helping you bring potential buyers. Conversely, if the overall curb appeal of your Fountain Valley, California restaurant does not appeal to buyers, they might pass over without consideration.

To avoid this from happening, everything in and out of your Fountain Valley, California restaurant must be clean. Manicured and a clean parking area can help create appeal for potential buyers.

Spot-free windows, polished handles and a neat floor are other simple things that could help create a memorable initial impression.

Additionally, you should make sure that all your equipment is in top condition. If your equipment is not working, it can send the message that you're hurried to pass a bad deal to the buyer.

Non-functional equipment also raises doubt about your financial situation and output abilities. It may even dampen the excitment of your employees, and in turn, negatively affect your productivity and effect your profit and loss statement.

You should appear credible in order to build the confidence of potential buyers regarding purchasing your Fountain Valley, California restaurant.

#7 Search for Fountain Valley Buyers

Searching for potential buyers can be time-consuming and often requires specialized skills and a certain level of experience. This may require that you hire an experienced Fountain Valley, California restaurant broker to help. A professional Fountain Valley, California restaurant broker will offer recommendations for saving time & money for attracting more potential buyers. However, if you decide to take on this project yourself, you will need to carry out appropriate advertising. You can offer your Fountain Valley, California restaurant on listing websites and let your family and friends know about your plans to market for sale your Fountain Valley, California restaurant.

As you will likely run across competition when trying to sell your Fountain Valley, California restaurant, you need your restaurant to stand out.

#8 Be Prepared

If you decide to sell your Fountain Valley, California restaurant yourself, or with a a Fountain Valley, California restaurant broker, you should always be ready. Be ready to show your Fountain Valley, California restaurant to potential buyers at all times.

You will never know when a buyer will visit your Fountain Valley, California restaurant. Some buyers might even visit as customers in order to perform some research before contacting you.

#9 Sell Your Fountain Valley, California Restaurant

This is the final action to take after a successful negotiation with a buyer. This stage involves the presentation of the necessary paperwork to finalize the contract. The documentation will likely begin with the Asset Purchase Agreement.

You should have your attorney’s help in creating this document. Involving an attorney helps to ensure the Asset Purchase Agreement covers every detail of the deal.

This document includes details including the selling price of your Fountain Valley, California restaurant, items and equipment and inventory value.

Choosing a Fountain Valley, California Restaurant Broker

Although attempting to sell your Fountain Valley, California restaurant on your own can be an exhilarating project, it can also be quite risky, especially for first time sellers.

The fact remains, if you're looking to achieve the most from of the business transaction, you need some level of experience to stand above and against your competition while attempting to find buyers.

Experience is also vital during negotiations with prospective buyers. This is where an experienced Fountain Valley, California restaurant broker is needed. A Fountain Valley, California restaurant broker has the resources, experience and strategy required to easily take on the task of marketing for sale your Fountain Valley, California restaurant. Additionally, a restaurant broker will liekly help you sell quicker and get you a higher sale value.

With the help of a Fountain Valley, California restaurant broker, you can maintain your undivided attention on operating your Fountain Valley, California restaurant and rest assured with the knowledge that a professional is in charge of selling your Fountain Valley, California restaurant.

Contact a Fountain Valley, California Restaurant Broker

Choosing to sell your Fountain Valley, California restaurant through a Fountain Valley, California restaurant broker has several advantages. First, however, you need to select the best Fountain Valley, California restaurant broker to help you in selling your Fountain Valley, California restaurant.

At Corbett Restaurant Brokers, we consider it our duty to represent you in the sale of your Fountain Valley, California restaurant. And, we work harder than any other Fountain Valley broker to secure the best deal for your restaurant and at the highest sale value.

Contact Corbett Restaurant Group today and let us help you sell your Fountain Valley, California restaurant for a great price.

Fountain Valley Zip Codes We Support: 92708